News and insights about brands in the sporting goods industry – Page 171
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Article
Skechers’ net falls by 55%
Skechers USA reported a drop of 54.9 percent to $49.1 million in its net earnings for the first quarter ended March 31 on 2.7 percent lower revenues of $1,242 million. In terms of local currencies, sales were down by 1.2 percent, with a small increase of 2.9 percent in the ...
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Article
Adidas may forego government aid
The Adidas Group said ten days ago that the German government had approved in principle its request to contribute to a €3 billion syndicated revolving credit facility through its state-owned bank, KfW, to help the company weather the Covid-19 crisis. In return, Adidas would not pay dividends for the duration ...
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News briefs
Lululemon's CFO leaves
Lululemon has announced the departure of its current chief financial officer, Patrick Guido, on May 8. He will be joining the Asbury Automotive Group as senior vice-president and chief financial officer. Meghan Frank, Lululemon’s senior vice-president of financial planning & analysis, and Alex Grieve, vice-president and controller, will take over ...
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News briefs
Alibaba to expand its cloud
According to Reuters, Alibaba Group Holding will be investing 200 billion yuan (€26.1bn-$28.3bn) over three years to bolster its data center and develop semiconductors and operating systems for its cloud-computing infrastructure. The Covid-19 pandemic has spurred demand for business software in China, and high data volumes occasioned by quarantines have ...
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Article
Saucony, Europe and e-commerce helped Wolverine in Q1
After posting record financial results in the fourth quarter of 2019, Wolverine Worldwide fared relatively well in the first quarter ended on March 28 - given the challenging conditions caused by Covid-19 – thanks mainly to higher online sales and strong performance in Europe and by the Saucony brand.
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News briefs
Nike signs up WNBA star
Nike has announced a multi-year shoe and apparel endorsement deal with Sabrina Ionescu. The financial terms of the agreement have not been disclosed. The Women’s National Basketball Association (WNBA) player was named Naismith Player of the Year and AP Player of the Year during her last year at the University ...
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Article
VF lowers its outlook, refinances
While releasing new financial data and targets and announcing new measures to refinance itself, VF Corporation indicates that it wants to acquire more fast-growing action brands like Altra or Icebreaker and become more “vertical,” boosting a direct-to-consumer (DTC) business that has come to represent 39 percent of its turnover.
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Article
GoPro will focus more on DTC
While cutting costs, GoPro has decided to shift more of its business to the direct-to-consumer (DTC) channel as its sales have gone down because of the quarantine-shuttered brick-and-mortar retail sector. Accordingly, the American brand of action cameras has hired a chief digital officer – Aimée Lapic, former chief marketing officer ...
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News briefs
Amazon wants to name the Tottenham stadium
Amazon is emerging as a contender to become the main sponsor of Tottenham’s new stadium, according to reports in the Daily Mail. The British newspaper also indicates, however, that any agreement for the naming rights of the stadium is far from complete, especially in consideration of the general uncertainty caused ...
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News briefs
Wolverine changes its brand structure
By May 30 at the latest, Todd Spaletto will be stepping down as president of Wolverine Worldwide’s Michigan Brands group, which consists of the Merrell, Chaco, CAT Footwear, Hush Puppies and Sebago brands. Rather than replace him in the post, Wolverine is promoting three executives and dividing responsibility for its ...
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News briefsKlättermusen processes new type of organic cotton
With the Ansur Windproof series, Klättermusen, the Swedish outdoor brand well known for its sustainable products, is introducing a new windproof alpine and trekking outerwear line made of Katla Cotton, a new variety of organic cotton certified by the Global Organic Textile Standard. Klättermusen describes the material as an organic ...
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News briefs
Anta took some market share in Q1
Anta Sports Products was apparently less affected by the coronavirus outbreak during the first quarter in its home market than the big international brands, which previously reported declines of up to 80 percent in the country. In a preliminary statement, Anta, which operates mainly in China, indicated that retail sales ...
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Article
Columbia provides a detailed Covid-19 update
Columbia Sportswear has suspended its quarterly dividend, its stock repurchase program and the guidance that it had given on Feb. 6 for its results in the first half of 2020 and the whole financial year. The company will give a new update when it comes out with its first-quarter ...
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News briefs
Wolverine holding virtual-only AGM
Wolverine Worldwide announced on April 17 that its annual general meeting of shareholders will be held in a virtual-only format on April 30, due to pubic health consideration related to the Covid-19 pandemic. Shareholders who were registered as such on March 18 will be invited to visit a dedicated website ...
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News briefsBenQ and Stotz win Performance Days awards (digitally)
Performance Days, the trade show devoted to functional fabrics, was scheduled to take place in Munich on April 22-30, and was cancelled with no alternative event date due to the Covid-19 crisis. However, a digital fair has been put in place to allow the industry to keep informed about the ...
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ArticleCan wearables help predict viral infections?
Fitbit and Garmin are collaborating with research institutes in the U.S. and Germany to help detect or predict coronavirus contamination. Similar efforts are reportedly underway in other countries as well. Fitbit, the Scripps Research Institute and Stanford Medicine have formed a research consortium to detect, track and contain infectious diseases ...
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News briefs
Nike launches new sandal
Nike has released the Air Max Koko, a new unconventional sandal for women. The Air Max Koko is derived from the Max Air sneaker concept, which has been turned into an atypical summer sandal.
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News briefs
Decathlon sells fitness gear in supermarkets
Sporting goods stores are locked down in France and other countries, but supermarkets are not. While keeping warehouses open to service online orders in France and other countries, Decathlon has joined forces with Franprix, a French grocery store chain, in a test that can help people stay fit at home ...
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News briefs
Apparel brands may lose 20% of their value
The brand value of the world’s 500 biggest companies might lose up to an estimated $1 trillion as a result of the coronavirus crisis, according the “Brand Finance Global 500 2020” survey. Brand Finance, whose surveys aim at creating a link between marketing and finance, also conducted a Covid-19 impact ...
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News briefs
Amazon’s VP for the EU steps down
Roy Perticucci has stepped down as vice president of Amazon’s European operations, responsible for 12 member countries of the European Union. Based in Luxembourg, he was hired for the job in 2013, having held executive posts at Unieuro, Dixons Stores Group, Ground Control, Dixon Stores, Unieuro and Ahold. The reasons ...
